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Ranbaxy slumps another 9% on FDA ban
Ranbaxy has been planning to launch couple of high-yielding generic drugs in the United States, including a version of Novartis AG's hypertension drug Diovan, with ingredients from Toansa. The FDA action could also delay the launch of a generic version of AstraZeneca Plc's blockbuster heartburn and ulcer pill Nexium in the US.
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Ranbaxy sinks 19% after FDA bans 4th Indian plant
The FDA said Ranbaxy is prohibited from making and selling pharmaceutical ingredients from its facility in Toansa in Punjab, "to prevent substandard quality products from reaching US consumers."
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Ranbaxy loses investment grade on FDA ban, sinks 20%
Ambareesh Baliga of Edelweiss Global Wealth said Ranbaxy can never be a "buy" looking at the adverse news flow over the last 18 months. "Ranbaxy is a traders' stock. Traders can buy if the stock falls below Rs 300, but it can never be in core investment portfolio," he added.
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Ranbaxy sinks 14% amid concerns on its US-based lab
Only last week, the FDA had sanctioned an import alert ban on Ranbaxy's Mohali plant, triggering the worst single day fall in its stock on Monday and a brokerage downgrade.
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Ranbaxy slumps another 9% on FDA ban
Ranbaxy has been planning to launch couple of high-yielding generic drugs in the United States, including a version of Novartis AG's hypertension drug Diovan, with ingredients from Toansa. The FDA action could also delay the launch of a generic version of AstraZeneca Plc's blockbuster heartburn and ulcer pill Nexium in the US.
-
Ranbaxy sinks 19% after FDA bans 4th Indian plant
The FDA said Ranbaxy is prohibited from making and selling pharmaceutical ingredients from its facility in Toansa in Punjab, "to prevent substandard quality products from reaching US consumers."
-
Ranbaxy loses investment grade on FDA ban, sinks 20%
Ambareesh Baliga of Edelweiss Global Wealth said Ranbaxy can never be a "buy" looking at the adverse news flow over the last 18 months. "Ranbaxy is a traders' stock. Traders can buy if the stock falls below Rs 300, but it can never be in core investment portfolio," he added.
-
Ranbaxy sinks 14% amid concerns on its US-based lab
Only last week, the FDA had sanctioned an import alert ban on Ranbaxy's Mohali plant, triggering the worst single day fall in its stock on Monday and a brokerage downgrade.
